EZLease Announces the First Free, Full-Function Lease Accounting Solution for Small Lease Portfolios

Offering aims to help private and government organizations tackle ongoing lease accounting adoption challenges across ASC 842, GASB 87, GASB 96, and IFRS 16

RESTON, Va., July 14, 2022 /PRNewswire/ -- EZLease, the leader in simple, fast, and easy lease accounting software, announced today its free, full-function offering for private and government organizations managing small lease portfolios. Resource-constrained organizations now have a free way to experience the fastest path to long-term lease accounting compliance.

The new free pricing tier, the Essential plan, is for organizations with up to nine leases and provides:

• Automated lease validation and classification
• Rich knowledgebase of how-to videos and support articles
• Self-service bulk import
• Asset contract tracking
• Transition accounting
• Export of ERP-ready data
• Lease subledger with configurable account mapping
• Access for two users through a secure cloud application

According to a recent EZLease survey which asked private and government organizations about their lease accounting compliance hurdles, most organizations noted they are resource-constrained and spreadsheet-dependent. Many organizations turn to spreadsheets initially for lease accounting compliance, but almost all soon struggle to keep up with changes and ongoing complexity. Most also need easy access to lease accounting expertise, resources, and tools.

"We are seeing increasing signs that many organizations are risking failure with lease accounting compliance -- by leaving projects until the last minute or relying on insufficient tools such as spreadsheets. So, to help private and government organizations with small lease portfolios get and stay compliant, we are offering EZLease for free. While it is tempting to start with a spreadsheet, even organizations with just a few leases are finding they have an increased risk of project delays and errors. To help mitigate these risks, they now have a free and easy path to compliance," said Colleen Tigges, Senior Vice President & General Manager, EZLease.

To learn more about this new EZLease pricing option, please visit: https://ezlease.com/product/essential-plan/.

EZLease provides simple, fast, and easy lease accounting software for ASC 842, GASB 87, GASB 96, and IFRS 16 that ensures long-term compliance for real estate and equipment leases for lessees and lessors. With over 15 years of successful implementations across private, government and public organizations of all sizes around the world, EZLease manages and automates lease data management, lease accounting, and reporting, leveraging customer-first support and deep accounting expertise. Learn more at www.ezlease.com.

SOURCE EZLease